CoinGecko: 15.9% of Users Solely Allocated to Shitcoins, Deeming Bitcoin Irrelevant

On September 26th, CoinGecko presented a report on "The Dominance of Bitcoin in Cryptocurrency Portfolios." Nearly half of retail investors hold the view that BTC is the most significant asset within their holdings. It is worth noting that 20.4% of the participants have constructed their portfolios almost entirely around Bitcoin. The most prevalent allocation strategy is to hold Bitcoin along with a small amount of altcoins. 28.0% of market participants have adopted this strategy, which reflects a potential inclination to be denominated in Bitcoin while awaiting the opportunity to shift to the more risky altcoins. Meanwhile, a quarter of market participants consider Bitcoin to be less important and attach more value to altcoins. 17.3% of users have an equal allocation of altcoins and BTC in their portfolios, while 10.2% of users have the majority of their funds in altcoins and a small portion in Bitcoin. Typically, they pursue a strategy with higher risks and potentially higher rewards. On the other hand, 15.9% of market participants regard Bitcoin as completely unimportant and choose to allocate only to altcoins. These investors believe that Bitcoin has limited upside compared to other cryptocurrencies or avoid Bitcoin for other reasons.